Bold Penguin, a commercial insurance technology provider, has added Columbus, Ohio-based State Automobile Mutual Insurance Co. (State Auto) to its platform, expanding its commercial auto insurance offering launched in March 2020.
This integration allows users of Bold Penguin’s platform access to business use auto coverage through State Auto with other insurance products to be launched in Q3 2020.
State Auto currently writes in 33 states with $2 billion in premium. The company offers products in Commercial Auto, Business Owners Policy (BOP), Workers’ Compensation, Middle Market Package, and Farm & Ranch.
“We have nearly completed a fully digital transformation of all product lines at State Auto over the last four years, while staying 100% committed to the independent agent,” said
In media release, Brandon Bauer, VP/Platform Distribution at State Auto Insurance said the company has “nearly completed a fully digital transformation of all product lines at State Auto over the last four years, while staying 100% committed to the independent agent.”
Commercial auto, the first coverage product launched with State Auto, is a growing category in the $100 billion small commercial market. As small businesses adapt to changing market conditions, efficient access to insurance products increases in importance.
Bold Penguin says its commercial insurance exchange has connected over 1.4 million small businesses with insurance products. In addition to Commercial Auto, the platform streamlines the quoting experience for General Liability, Business Owners Policy (BOP), Professional Liability, and Workers’ Compensation.
Bold Penguin by a group of entrepreneurs who spent their early days working with Allstate, Nationwide, and Progressive alongside regional carriers and established insurance agencies.
Source: Bold Penguin
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